18 Dec, 2019, 08:30 ET
- Supreme Cannabis expands recreational distribution to all ten Canadian provinces;
- 7ACRES products will now be available in Québec and Newfoundland and Labrador;
TORONTO, Dec. 18, 2019 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) announced today that select brands will be available in Québec and Newfoundland and Labrador, expanding Canadian distribution to all ten provinces.
The Company entered into a letter of intent with Société Québécoise du Cannabis ("SQDC") to supply 7ACRES products to retail stores across Québec. On November 21, 2019, the Company also entered into a formal agreement to supply the Newfoundland and Labrador Liquor Corporation ("NLC") with 7ACRES high -end cultivars.
"With increased packaging capacity we are pleased to have the recreational supply necessary to serve new consumers in Québec and Newfoundland and Labrador. As we enter two new provinces, we continue to benefit from the strength of our experienced sales team," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "In anticipation of our 7ACRES brand entering these priority provinces, we specifically launched strains with east coast consumers in mind."
With the addition of improved bottling capacity at 7ACRES and both internal and third-party pre-roll manufacturing capacity, the Company looks forward to providing a steady supply of premium cannabis products to both markets. As Supreme Cannabis transitions to 100% recreational sales, it is well positioned to successfully supply all ten Canadian provinces.
Supreme Cannabis' 7ACRES brand is now available in all ten provinces across Canada, including British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia and PEI. The Company continues to evaluate all markets for its additional recreational brands.
About Supreme Cannabis.
The Supreme Cannabis Company, Inc. is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world's fastest-growing, premium plant driven-lifestyle companies by effectively deploying capital, with an emphasis on disciplined growth and high-quality products.
Supreme Cannabis' portfolio includes 7ACRES, its wholly-owned subsidiary and multi-award-winning brand; Blissco, a wellness cannabis brand and a multi-licensed processor and distributor based in British Columbia; Truverra Inc., a global medicinal cannabis brand and licensed cultivator; Sugarleaf by 7AC, crafted for the convenient pleasure of the cannabis experience; Cambium Plant Sciences, a plant genetics and cultivation IP company; MG Health Lesotho, an cannabis oil producer located in southern Africa; Supreme Heights, an investment platform focused on CBD brands in the UK and Europe and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada.
Supreme Cannabis trades as FIRE on the Toronto Stock Exchange (TSX: FIRE), SPRWF on the OTC Exchange in the United States (OTCQX: SPRWF) and 53S1 on the Frankfurt Stock Exchange (FRA: 53S1). Follow us on Instagram, Twitter, Facebook and YouTube.
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Certain statements made in this press release may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may relate to anticipated events or results including, but not limited to: the availability and supply of the Company's products in Canadian provinces; the Company's transition 100% recreational sales; and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking information is current as of the date it is made and is based on reasonable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct.
Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking information as discussed in the "Risk Factors" section of the Company's Annual Information Form dated September 17, 2019 ("AIF"). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.
SOURCE The Supreme Cannabis Company, Inc.
For further information: Madelin Daviau, Investor Relations, Email: [email protected], Phone: 416-466-6265, supreme.ca
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